RE:RE:TimeoutDB - check my math on GT Gold Newmont acquistion....and let me know WHY on God's green earth...if they were willing to pay $361M usd for that asset....why they wouldn't at least pay that for Casino ($2.25 usd). I'm NOT implying that would be a good deal for WRN...but what i am saying is all the math shows it should be at least $3 usd so i can't envision any scenario of it being less than that.
Actually my math was wrong on prior message.
They paid $17M cad for 10% of GT gold --- implies "value" = $171M cad but that's about $130M usd...but then to buy it all out from strong hands they had to pay $361M usd for a premium of 277%.
Now applying that logic to Rio/WRN --- $25M cad @ 8% = $312cad implied value X 277% (taking same premium from GTNewmont transaction) = $865M cad = $649M usd = $4 usd...which ironically is close to 2 X GT Gold value (which makes sense since about double the resource i believe)
Again, help me understand how the risk on this being < $3usd would be minimal....aside from NEVER getting permitted ....which i find that almost impossible to believe considering they are building the "Casino" road